Section 1.  Section 3 of Chapter 40A, as most recently amended by Section 79 of Chapter 240 of the Acts of 2010, is hereby amended by adding at the end thereof the following language: -

Any municipality that has so accepted this section pursuant to Chapter 4, Section 4 of the Massachusetts General Laws may, upon majority vote at town meeting in a town or by majority vote of the city council in a city, suspend Chapter 40A zoning and local approval statutes, with the exception of any state building code or state sanitary codes for any area, sidewalk, square, area or building designated as a “Free Enterprise Zone” by a town at town meeting or by the city at city council.  Any such “Free Enterprise Zone” created under this section will be designated in order to stimulate job production and economically revitalize communities, and shall be awarded in furtherance of these goals, provided that any such use of a designated area does not unreasonably create adverse off-site impacts.  At the expiration of two years after the date of first occupancy in the Free Enterprise Zone, any such person or business shall be required to comply with all zoning and local approval statutes otherwise required to engage in such use.

Any city or town may rescind such designation upon 2/3 vote of city council or town meeting, provided that sufficient notice has been provided to the property owner for Free Enterprise Zones located on privately-owned property.